Taxation: Leo says a wealth tax would discourage taxpayers and harm the economy

That’s not a suitable solution; let’s set it aside

A new wealth tax would “discourage taxpayers” and “damage the Italian economy”. This was stated by the Deputy Minister for the Economy, Maurizo Leo, on the sidelines of the Confindustria conference “Accelerating Growth”.

"We already have a great many wealth taxes if we consider the IMU, stamp duties and a whole range of other measures: introducing further wealth taxes would discourage all Italian taxpayers who could easily move abroad, but international observers also say that a wealth tax is by no means an adequate solution," he said. “Let us bear in mind that very often wealth stems from income that has already been taxed in the past, and so we would be seeing double taxation. Therefore, let us set the wealth tax aside and try to find incentives for businesses and households, but without these measures that would damage the Italian economy,” he concluded.

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